Company Overview and News

 
Fitch affirms Sri Lanka’s Dialog Axiata at AAA(lka); outlook stable

2018-04-05 lankabusinessonline
Fitch Ratings-Singapore/Colombo- 4 April 2018: Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.

 
Fitch affirms Hemas Holdings at AA-(lka); outlook stable

2018-03-28 lankabusinessonline
Fitch Ratings has affirmed Sri Lanka-based conglomerate Hemas Holdings PLC’s (Hemas) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. Fitch has also affirmed the National rating on Hemas’s outstanding senior unsecured debentures at ‘AA-(lka)’.

 
Fitch Affirms Richard Pieris & Company at ‘A(lka)’; Outlook Stable

2018-02-26 lankabusinessonline
(PRESS RELEASE) Fitch Ratings-Colombo-26 February 2018: Fitch Ratings has affirmed Sri Lanka-based conglomerate Richard Pieris & Company PLC’s (RICH) National Long-Term rating at ‘A(lka)’ with a Stable Outlook.

 
Hemas Holdings posts consolidated revenue of Rs.35.6Bn

2018-02-13 lankabusinessonline
Hemas Holdings PLC and its subsidiaries reported consolidated revenue of Rs.35.6 billion; a year-on-year (YoY) growth of 11.4% and profit attributable to equity holders of Rs.2.1billion, a decline of 12.7% for the nine months ending December 31, 2017.

 
Atlas acquisition to boost Hemas’ defensive cash flows: Fitch

2018-01-23 lankabusinessonline
Jan 23, 2018 (LBO) – Hemas Holdings acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings said.

 
Hemas Holdings to acquire stationery manufacturer Atlas

2018-01-19 lankabusinessonline
Jan 19, 2018 (LBO) – Hemas Holdings has entered into an agreement to acquire 75.1 percent stake of Sri Lanka’s leading stationery manufacturer Atlas for 5.7 billion rupees.

 
Hemas achieves revenue growth of 11.6-pct

2017-11-14 lankabusinessonline
(PRESS RELEASE) – Hemas Holdings PLC (HHL) and its subsidiaries achieved consolidated revenue of Rs.23.0 billion, a year-on-year (YoY) growth of 11.6% and profit attributable to equity holders of Rs.1.4 billion, a decline of 8.0% for the six months ending September 30, 2017.

 
Sri Lankan companies eye Africa as next investment destination: Stax

2017-08-01 lankabusinessonline
Aug 01, 2017 (LBO) – STAX Inc, a strategy consultancy, says as African economies continue to grow, more opportunities will open up for Sri Lankan firms in areas such as tourism, hospitality education and green energy.

 
Fitch downgrades Lion Brewery to A+(lka); outlook negative

2017-07-31 lankabusinessonline
Fitch Ratings has downgraded Sri Lanka’s Lion Brewery (Ceylon) PLC’s National Long-Term Rating to ‘A+(lka)’ from ‘AA-(lka)’. The Outlook is Negative. The agency has also downgraded the National Long-Term Rating on Lion’s outstanding senior unsecured debentures to ‘A+(lka)’ from ‘AA-(lka)’.

 
Sri Lanka CCC appoints Rajendra Theagarajah as new chairman

2017-06-30 lankabusinessonline
June 30, 2017 (LBO) – The Ceylon Chamber of Commerce appointed Rajendra Theagarajah as its new Chairman during its 178th AGM held in Colombo, Thursday.

 
Fitch- More interest-rate pressure for Sri Lankan corporates

2017-06-20 adaderana.lk
Fitch Ratings expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months. Their borrowing costs have increased more than 200bp in the 12 months to March 2017 as the Central Bank of Sri Lanka increased policy rates by 125bp and the statutory reserve ratio by 150bp in an attempt to reign in aggressive credit growth. 

 
Fitch expects more interest rate pressure for Sri Lankan corporates

2017-06-20 lankabusinessonline
June 20, 2017 (LBO) – Fitch Ratings says it expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months.

 
Hemas after-tax profit up 28-pct to Rs.3.8Bn in FY17

2017-05-18 lankabusinessonline
(PRESS RELEASE) – Hemas Holdings Plc yesterday announced an after-tax profit of Rs. 3.8 billion for the year ended 31 March 2017, reflecting a 28.3% growth over the previous year.

 
Top innovation leaders of JKH, MAS, Hemas & CodeGen to speak at CCC event

2017-03-07 lankabusinessonline
The leaders driving innovation in Sri Lanka’s top firms will share expert insights and practical lessons at the upcoming ‘Future of Business’ Innovation Strategy and Learning Event organized by the Ceylon Chamber of Commerce, and will spell out the key ingredients needed in building in-house innovation teams.

 
Fitch affirms Richard Pieris & Company at A(lka); outlook stable

2017-03-03 lankabusinessonline
Fitch Ratings has affirmed Sri Lanka-based conglomerate Richard Pieris & Company PLC’s (RICH) National Long-Term rating at ‘A(lka)’ with a Stable Outlook. Fitch has also affirmed the National ratings on RICH’s outstanding senior unsecured debentures at ‘A(lka)’.

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